Economics
Japan’s April Crude Imports From Iran Drop on Insurance Squeeze
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Japan’s crude imports from Iran slumped 96 percent in April from a year ago, as sanctions aimed at halting the Middle Eastern country’s atomic program limited insurance for transportation of the cargoes.
Oil purchases from Iran for the month dropped to 36,005 kiloliters, or about 7,550 barrels a day, compared with 902,115 kiloliters in April 2012, according to data today from the Ministry of Economy, Trade and Industry. Imports fell 97 percent from 1.39 million kiloliters in March, the data showed.